Vodafone Idea Update: The board of Vodafone Idea, which is dealing with monetary disaster, has permitted the elevating of Rs 14,500 crore. Vodafone will increase Rs 4,500 crore in Idea by issuing preferential shares to its promoters – Aditya Birla Group and Vodafone Inc. The Board of the Company has permitted the issuance of convertible securities, Global Depositories Receipts, American Depositories Receipts, convertible bonds, non-convertible and convertible debentures, warrants, and so forth., in a number of tranches, as much as an quantity of about Rs 10,000 crore. Is.

Vodafone Idea will concern shares to firms at a value of Rs 13.30 per share, which is about 20 p.c greater than its present market value. Vodafone Group and Aditya Birla Group maintain 44.39% and 27.66% stake in Vodafone Idea and each are co-promoters of this telecom firm. The firm stated that it has convened an Extraordinary General Meeting (AGM) on March 26, during which the plan to lift this fund shall be permitted by the shareholders.

Last week, Vodafone Group raised round Rs 1,442 crore by promoting 2.4 per cent stake in Indus Towers by a block deal to an undisclosed investor. Apart from this, Vodafone has additionally introduced to promote 4.7 p.c of its tower firm to Bharti Airtel.

This deal has been executed on the situation that Vodafone will make investments the cash acquired from it in Vodafone Idea and likewise pay Vodafone Idea’s dues in Indus Towers. In Thursday’s buying and selling session, Vodafone Idea’s inventory closed at Rs 11.05 with a acquire of 5.74%.

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